Baxter Jeff 4
4 · VBI Vaccines Inc/BC · Filed Jul 28, 2023
Insider Transaction Report
Form 4
Baxter Jeff
DirectorCEO, President
Transactions
- Award
Option (Right to Buy Common Shares)
2023-07-27+70,000→ 70,000 totalExercise: $1.30Exp: 2033-07-27→ Common Shares (70,000 underlying)
Footnotes (2)
- [F1]The reporting person is a participant in the Issuer's Incentive Plan (the "Plan"). The board of directors of the Issuer approved the option grant on July 27, 2023 (the "Grant Date"). The options were granted pursuant to that certain option agreement entered into by and between the Issuer and the reporting person, dated July 27, 2023 (the "Option Agreement"). 25% of the options vest and become exercisable on the one-year anniversary of the Grant Date, with the remaining 75% of the options vesting and becoming exercisable in 24 equal monthly installments beginning on the first day of the month following the one-year anniversary of the Grant Date, subject to the reporting person's employment on the relevant vesting date.
- [F2]The options expire 10 years from the Grant Date unless terminated sooner in accordance with the Plan or the Option Agreement.